Starting a Business? Don't skip the legal part.

Many people skip the most important part of starting a business…separating the business owner(s) from the business itself. This is done by forming a separate business entity such as a corporation or limited liability company (LLC). No matter how good the intentions are of the owners in conducting sound business practices, forming a separate company helps to protect the owners’ personal assets from liability in the case of a lawsuit against the business.

In addition, if there is more than one business owner, it is crucial that the partners agree on the operations of the business in the event that bad things happen such as partner disputes, divorce or deaths and provide that in a written operating agreement.

However, there are just so many issues involved with starting a business, whether it is a franchise, purchasing an existing business, or turning a hobby into a home-based business, that often the legal stuff gets pushed to the back burner or the “round-to-it” list. Plus, who wants to spend the money for an expensive lawyer to draw up the paperwork when there are so many other costs involved in starting a business.

Don’t fret…. One source of advice is IncFile, an online service that checks the availability of your business name in your particular state’s database, prepares the legal documents to form a company structure, and files those documents with the appropriate state agency. Incfile also can help with the ongoing state filing requirements as part of maintaining a company’s good standing with the state. For about the price of a night out on the town (plus appropriate state filing fees), you can feel confident that your business is legally started out on the right foot.

Do you want to start your business off right? Click the button below to incorporate now.

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